Published: Thu, November 01, 2018
Research | By Raquel Erickson

'A race to the top': Global commitment on plastic economy launched

'A race to the top': Global commitment on plastic economy launched

That is why on Monday we launched the New Plastics Economy Global Commitment, in collaboration with the United Nations Environment program.

Signatories, which include numerous world's largest packaging producers, brands, retailers and recyclers, represent 20% of all plastic packaging produced globally.

Through the Global Commitment, Mondi has said it will boost the use of recycled content in its products to ensure a minimum of 25 per cent of post-consumer waste is incorporated across all its plastic packaging by 2025. "We need to move upstream to the source of the flow", said British sailor Ellen MacArthur, who is behind the plastic initiative.

Ecostore's signatory of the Ellen MacArthur Foundation's New Plastics Economy Global Commitment underlines the company's position as an industry leader in sustainability. They will also aim to eliminate "problematic or unnecessary plastic packaging", the statement noted, and increase the amount of plastic that is reused and recycled.

The companies who have signed up include worldwide giants such as Coca-Cola, Danone, H & M, Unilever, Mars and L'Oreal, to name just a few.

"I encourage all businesses and governments to go further and embark on a race to the top in the creation of a circular economy for plastic".

According to a company news release, Danone plans to ensure that all its packaging is created to be 100 percent recyclable, reusable or compostable by 2025.

PepsiCo said it had made a number of pledges in a bid to "build a PepsiCo where plastics need never become waste".

The commitment calls on these companies to start eliminating unnecessary plastics and implementing reusable packaging where possible, starting right now. We want to act and lead by example.

Participation to the initiative is not limited to big brands in the retail and manufacture sectors as more than fifteen financial institutions, particularly those with more than $2.5 million in assets under management, have also pledged their support for the Global Commitment. Corporations are not required to set actual targets to reduce the total amount of single-use plastics they are churning out.

The Oakland, Calif. -based investor advocacy group As You Sow Foundation, which is leading a $1 trillion coalition of institutional investors pressuring companies on plastics use, said it signed the agreement as a supporter but wanted to see more specifics, like calling for producer responsibility to raise recycling rates.

Ecostore is committed to reducing plastics pollution.

Alexandre Ricard, Chairman & Chief Executive Officer of Pernod Ricard added that "for us, the problem surrounding plastics isn't a new one but it feels that we have now reached a tipping point".

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